Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling Sells 6,038 Shares

Fastly, Inc. (NYSE:FSLY) CFO Ronald W. Kisling sold 6,038 shares of Fastly stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $9.45, for a total transaction of $57,059.10. Following the transaction, the chief financial officer now directly owns 519,812 shares of the company’s stock, valued at $4,912,223.40. The trade was a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Fastly Stock Up 3.3 %

NYSE:FSLY opened at $9.60 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 3.97. Fastly, Inc. has a 1-year low of $5.52 and a 1-year high of $25.87. The company has a 50-day moving average of $9.18 and a 200 day moving average of $7.81. The firm has a market cap of $1.35 billion, a PE ratio of -8.80 and a beta of 1.24.

Fastly (NYSE:FSLY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.08. The firm had revenue of $137.21 million during the quarter, compared to analysts’ expectations of $131.86 million. Fastly had a negative net margin of 27.47% and a negative return on equity of 13.24%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.33) EPS. As a group, research analysts anticipate that Fastly, Inc. will post -0.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FSLY. 180 Wealth Advisors LLC boosted its position in Fastly by 2.5% during the fourth quarter. 180 Wealth Advisors LLC now owns 68,643 shares of the company’s stock valued at $648,000 after purchasing an additional 1,695 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Fastly by 3.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 68,301 shares of the company’s stock valued at $503,000 after buying an additional 2,128 shares in the last quarter. Blue Trust Inc. grew its position in shares of Fastly by 15.2% in the 3rd quarter. Blue Trust Inc. now owns 17,420 shares of the company’s stock worth $128,000 after buying an additional 2,296 shares during the last quarter. FMR LLC raised its stake in shares of Fastly by 124.2% during the 3rd quarter. FMR LLC now owns 6,357 shares of the company’s stock worth $48,000 after acquiring an additional 3,522 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in Fastly during the second quarter valued at approximately $38,000. 79.71% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FSLY has been the subject of several analyst reports. Robert W. Baird raised their target price on shares of Fastly from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Craig Hallum boosted their target price on Fastly from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Oppenheimer upgraded Fastly from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a report on Monday, December 2nd. Raymond James downgraded Fastly from a “strong-buy” rating to a “market perform” rating in a research report on Tuesday, October 1st. Finally, Piper Sandler lifted their target price on Fastly from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $8.85.

About Fastly

Fastly, Inc operates an edge cloud platform for processing, serving, and securing its customer's applications in the United States, the Asia Pacific, Europe, and internationally. The edge cloud is a category of Infrastructure as a Service that enables developers to build, secure, and deliver digital experiences at the edge of the internet.